A 25-year Samsung Record Ends As Sk Hynix Rides The Hbm Success
SK Hynix, this Monday, broke a 25-year Samsung record of being the most valuable company in South Korea. Riding the AI boom and HBM memory success, SK Hynix outclassed Samsung for the first time in its home ground.
According to KEDGlobal, SK Hynix market share surpassed Samsung Electronics, snatching a 25-year crown on June 22. Shares of the “now” most valuable company closed up 5.6%, lifting its market capitalisation to $1.35 trillion.
On the other hand, Samsung’s stock eased 0.14% to give it a market value of 2,066.7 trillion won, excluding preferred shares. Despite a broad business portfolio, Samsung surrendered its crown to SK Hynix due to the AI wave.
However, the Galaxy maker stated that its market cap should include preferred shares. Including those shares, the company’s value as of the market close stood at 2,246.4 trillion won, which is still ahead of SK Hynix.
“The emergence of customised AI memory fundamentally changed the industry’s economics and allowed SK Hynix to establish itself as the market leader,” said Kim Sunwoo, a senior analyst at Meritz Securities.
The post A 25-year Samsung record ends as SK Hynix rides the HBM success appeared first on Sammy Fans.
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